Hyperlocal delivery (HLD) refers to a novel model for delivering goods or services to customers within a very limited geographic area, typically within a few miles of their location, in a very short time. With more and more online retailers moving to HLD, it is imperative to analyse the impact...

Investors typically measure an asset’s potential to diversify a portfolio by its correlations with the portfolio’s other assets, but correlation is useful only if it provides a good estimate of how an asset’s returns co-occur cumulatively with the other asset returns over the investor’s...